TAOP

- Gross Margin Expands 270 Basis Points, Net Loss Narrows 47 Percent - Smart Elevator Platform Surpasses 10,000 Connected Elevators as Taoping Builds a Higher-Quality Recurring Revenue Base TIANJIN, China, Sept. 29, 2026 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of cloud-based smart city, Internet of Things and intelligent infrastructure solutions, today announced unaudited financial results for the six months ended June 30, 2026. The Company expects to file a report on Form 6-K covering the six months ended June 30, 2026 with the U.S. Securities and Exchange Commission ("SEC") on or about September 29, 2026. Notable First Half 2026 Highlights: - Higher-quality revenue mix gains momentum. Elevator project and maintenance, repair and operations ("MRO") revenue totaled $3.7 million, or approximately 31.3% of first-half revenue. Project and MRO gross margins were approximately 23.5% and 32.2%, respectively. - Smart elevator platform reaches significant scale. More than 10,000 elevators are now connected to and managed through Taoping's platform across older residential communities, affordable housing and urban public infrastructure, establishing an operating base for subscription and service revenue. - Gross margin expanded. Gross margin increased to 12.8% from 10.1%, a 270-basis-point improvement, as higher-margin elevator revenue partially replaced lower-margin legacy hardware sales. - Cost discipline supports the transition. Administrative expenses declined 41.9% to $2.7 million, and selling expenses fell 58.8% to $0.2 million. - Losses narrowed sharply. Operating loss improved 46.8% to $2.2 million, while net loss improved 46.7% to $2.5 million. Mr. Bin Ma, Co-Chief Executive Officer of Taoping, commented, "Taoping's first half financial results mark an important step in the company's transformation. We intentionally reduced our exposure to lower-margin business areas, and the benefits are beginning to show in our financial metrics: gross margin expanded, while operating and net losses were nearly cut in half. At the same time, elevator project and MRO services grew to nearly one-third of revenue. That is a more durable foundation than the business had a year ago." "Importantly, we have expanded our addressable market opportunity. We now have more than 10,000 elevators connected to our smart management platform and a full-lifecycle offering that spans modernization, maintenance and recurring platform services. We are also working with PICC Property and Casualty on an insurance-plus-technology model that uses our patented technology to make maintenance activity traceable and help address fraudulent service records. Following a successful demonstration project in Tianjin, we believe the model can be replicated across major urban regions. With policy support for urban renewal and elevator modernization strengthening, our focus is to execute the order book, grow subscription and MRO revenue, and build a scalable mix of hardware, platform services and insurance technology that can improve cash generation and create lasting value for shareholders." Select Financial Results for the First Six Months Ended June 30, 2026 Revenue was $11.9 million, compared with $17.6 million in the first half of 2025. The $5.7 million decrease primarily reflected lower product, advertising and software revenue as the Company continued to realign the business away from lower-margin legacy activity. This was partially offset by $3.3 million of elevator project revenue and $0.5 million of MRO revenue following the November 2025 acquisition of Skyladder Group Limited ("Skyladder Group"). The prior-year period included no elevator-related revenue. Gross profit was $1.5 million, compared with $1.8 million a year earlier. Gross margin, however, increased to 12.8% from 10.1%, reflecting the improved mix. Elevator project and MRO revenue generated gross margins of approximately 23.5% and 32.2%, respectively, during the period. Administrative expenses declined to $2.7 million from $4.7 million, while selling expenses decreased to $0.2 million from $0.5 million. Research and development expense was $0.8 million in both periods. These changes helped reduce operating loss to $2.2 million from $4.2 million and net loss to $2.5 million from $4.7 million. Net cash used in operating activities was $2.4 million, compared to $1.5 million in the prior-year period. The year-over-year increase in net cash outflow was due to an increase in other receivables and prepaid expenses and a decrease in accounts payable, which more than offset the positive impact from the narrowing of the Company's net loss. As of June 30, 2026, the Company had $1.0 million in cash and cash equivalents and working capital of $10.6 million. Cash and cash equivalents and working capital were $2.1 million and $12.3 million, respectively, at December 31, 2025. Outlook For the balance of fiscal year 2026, Taoping will focus on converting Skyladder Group confirmed orders into revenue while expanding platform subscriptions and recurring MRO services. The Company's longer-term strategy is to build three complementary revenue streams: elevator hardware and modernization, smart-platform subscriptions, and insurance technology around a connected base that now exceeds 10,000 elevators. The Company believes it is positioned to benefit from China's urban-renewal agenda, which calls for renovation work across 115,000 older urban residential communities and the upgrade or installation of 575,000 residential elevators over the next five years. Management believes this creates a substantial runway for elevator modernization, ongoing maintenance and platform services. Management expects Skyladder Group to deliver revenue growth in 2026 based on confirmed orders and contracts on hand. The pace of growth will depend on successful execution, customer collections, adoption of newer service models, market conditions and the other risks described in the Company's SEC filings. About Taoping Inc. Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative cloud-based technologies on the Smart City IoT platform, and related products and services. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, and new media. For more information about Taoping, please visit http://en.taop.com. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results; risks related to our strategic transformation, including our ability to successfully transition from legacy businesses to platform-based services; risks related to executing our growth strategy in the smart elevator and intelligent infrastructure markets; our ability to obtain additional financing on acceptable terms if needed; intense competition in the IoT and smart city technology markets; changes in domestic and foreign laws, regulations and taxes; uncertainties related to China's legal system and economic, political and social events in China; the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. View original content:https://www.prnewswire.com/news-releases/taoping-reports-first-half-2026-results-302892120.html

Strategic Transformation Drives Platform Expansion, Positions Company for Accelerated Growth TIANJIN, China, April 30, 2026 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative Cloud-based technologies on the Smart City IoT platform, and related products and services, today reported financial results for the year ended December 31, 2025. The Company expects to file its annual report on Form 20-F for the year ended on December 31, 2025 with the U.S. Securities and Exchange Commission ("SEC") on or about April 30, 2026. Mr. Bin Ma, Co-CEO of Taoping, said, "Our 2025 financial performance reflects both deliberate strategic realignment and disciplined investment in future growth drivers. While revenue declined year-over-year, we diversified revenue streams and strengthened our balance sheet, positioning the Company to execute on its next phase of growth. We remain focused on improving gross margin through higher-value service offerings and expect operating efficiency to improve as platform revenues scale and recurring income becomes a larger component of our business mix." "We are encouraged by the early validation of this strategy. As highlighted by our recent smart elevator expansion, including over $3 million in new orders announced to date, we believe we are well positioned to capitalize on growing demand for intelligent, data-driven infrastructure solutions. While we cannot guarantee future results, we are optimistic about the long-term growth potential of this segment." "By integrating proprietary, AI-enabled technologies with real-world operational data, we believe we are not only improving efficiency and safety outcomes for our customers, but also building a scalable platform that positions Taoping at the forefront of intelligent infrastructure transformation. We expect that this approach will unlock meaningful operating leverage, expand margins over time, and create sustainable long-term value for our shareholders." Select Fiscal Year 2025 Financial Results For the fiscal year ended December 31, 2025, Taoping Inc. reported total revenue of $30.8 million, a decrease of approximately 16.0% year-over-year compared to $36.7 million in 2024. The decline primarily reflects the Company's continued strategic shift away from lower-margin legacy software and transactional businesses toward higher-value platform-based and AI-enabled services. Gross profit was $3.37 million, compared to $7.77 million in the prior year, reflecting ongoing investments in new business initiatives and a transitional revenue mix. Operating loss was $9.23 million, compared to $1.61 million in 2024, driven primarily by increased administrative cost and continued scaling of next-generation platform infrastructure. Net loss attributable to the Company was $10.06 million, compared to $1.82 million in the prior year. Strategic and Operational Update During 2025, Taoping accelerated its transformation into a technology-driven platform company, focusing on AI, IoT, and data-enabled services. Management emphasized the Company's continued strategy to build out its intelligent infrastructure platforms, including smart city, digital media, and IoT-based solutions, while advancing its AI-powered predictive systems and data monetization capabilities. Additionally, the Company is leveraging advanced technologies, including predictive analytics and intelligent automation, to expand into verticals such as smart infrastructure and elevator lifecycle services, which are expected to generate stable, high-margin recurring revenues over time. Outlook Looking ahead, Taoping expects: Continued growth in AI-enabled platform services Expansion of recurring revenue streams and customer retention Gradual improvement in gross margins and operating leverage Execution of a multi-year growth strategy focused on technology leadership and ecosystem expansion Accelerated growth through strategic collaborations and acquisitions Management believes these initiatives, if successfully executed, will support revenue growth and improved profitability over time as the Company seeks to expand its position in intelligent digital infrastructure and platform services. About Taoping Inc. Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative Cloud-based technologies on the Smart City IoT platform, and related products and services. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit http://en.taop.com. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results; risks related to our strategic transformation, including our ability to successfully transition from legacy businesses to platform-based services; risks related to executing our growth strategy in the smart elevator and intelligent infrastructure markets; our ability to obtain additional financing on acceptable terms if needed; intense competition in the AI, IoT, and smart city technology markets; changes in domestic and foreign laws, regulations and taxes; uncertainties related to China's legal system and economic, political and social events in China; the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. View original content:https://www.prnewswire.com/news-releases/taoping-reports-fiscal-year-2025-results-302758706.html

TIANJIN, China, Dec. 29, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP) (the "Company"), a provider of innovative smart cloud platform services and solutions, today announced two significant strategic milestones underscoring its accelerating growth trajectory: the establishment of a new corporate headquarters and the signing of US$2 million in smart elevator renewal contracts. As part of its long-term growth and scale strategy, Taoping has officially relocated its corporate headquarters to a more prominent and strategic location in Tianjin, China. The new headquarters is situated in the Tiankai Higher Education Park on the 21st floor of Building 3, Tianjin Science and Technology Plaza, Keyan West Road, Nankai District, Tianjin. This move strengthens Taoping's operational foundation, enhances access to innovation resources, and positions the Company closer to key partners and customers stakeholders. Taoping will continue to maintain an active presence in Shenzhen, China, serving as its southern headquarters and innovation hub. Anchoring this relocation are the newly secured smart elevator renewal contracts valued at US$2 million, awarded to Taoping's newly acquired subsidiary, Skyladder (Tianjin) Technology Development Co., Ltd. The Company expects to complete the project and recognize the full contract value as revenue in the first quarter of 2026, providing near-term revenue visibility and reinforcing execution strength. China's elevator modernization market represents a substantial and rapidly expanding opportunity. According to official data from the State Administration for Market Regulation, China currently has approximately 12 million elevators in operation, with nearly 10% having been in service for more than 15 years. The large-scale renewal of aging elevators has become a national priority, supported by the July 2024 and January 2025 State-issued policy, "Several Measures on Strengthening Support for Large-scale Equipment Renewal and Consumer Goods Trade-in." Backed by favorable government policy, Taoping is addressing longstanding industry pain points through a technology-driven, data- and AI-enabled business model. Moving beyond the traditional single-equipment upgrade approach, Taoping leverages core technologies such as deep IoT perception and AI-powered autonomous decision-making to collect real-time elevator operational data through intelligent sensors. By integrating its proprietary platforms, the Company delivers a comprehensive, full life-cycle smart service system that enhances safety, efficiency, and operational intelligence, creating a clear and differentiated competitive advantage. Mr. Jianghuai Lin, Chairman and Chief Executive Officer of Taoping, commented, "We are excited to be entering 2026 in a strong position for growth as we focus on unlocking greater value for shareholders. China's elevator industry is entering a powerful dual-growth cycle driven by both large-scale renewal demand and comprehensive intelligence upgrades. The deep synergy between Taoping's full life-cycle smart service capabilities and our platform resources significantly strengthens our strategic position in the smart elevator sector. Looking ahead, we will continue to advance our renewal plus integrated operations and maintenance model and leverage our proven success across key cities nationwide as we deliver sustainable long-term value for our shareholders." About Taoping Inc. Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit http://en.taop.com. You can also follow us on X. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results, the effects of the global pandemic or other health crisis, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. View original content:https://www.prnewswire.com/news-releases/taoping-announces-transformational-growth-milestones-new-corporate-headquarters-and-us2-million-smart-infrastructure-contracts-302649888.html

SHENZHEN, China, April 29, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative smart cloud platform services and solutions, today reported financial results for the year ended December 31, 2024. The Company expects to file its annual report on Form 20-F for the year ended on December 31, 2024 with the U.S. Securities and Exchange Commission ("SEC") on or about April 29, 2025. Mr. Jianghuai Lin, Chairman and CEO of Taoping, said: "2024 marked a significant transition year for the Company as we focused on developing new AI-driven products, while enhancing our existing solutions to become more feature-rich and AI-enabled. This resulted in a slight decrease in our revenue to $36.7 million for the full year 2024, compared to $38.6 million in 2023, which had benefitted from a surge in growth as we emerged from the COVID-19 shutdowns." "We are encouraged by the significant progress we have made and the growing customer demand for our cloud-based technologies for Smart City IoT platforms. China's accelerated urbanization rate remains a key driver of this demand and is expected to serve as a positive catalyst for our longer-term business growth." "Importantly, we believe we are well positioned for improved growth in the coming year. Our strategic investments in innovation have enabled us to develop a comprehensive portfolio of software and hardware offerings with fully integrated solutions. Underpinning our ecosystems are our industry-specific integrated advertisement display terminal products, digital advertising distribution technology platforms, resource exchange and sharing capabilities, and big data analysis services. As a result, we are confident that Taoping is in the right long-term markets with the right products and solutions. Our focus in 2025 at every level of the Company is on disciplined execution as we work to drive growth and deliver meaningful value for shareholders." Select Financial Results for the Year Ended December 31, 2024 Total revenue for the year ended December 31, 2024 was $36.7 million, compared to $38.6 million for the year ended December 31, 2023. The Company benefited from increased demand for its products and solutions which in many cases offer enhanced integration with popular AI components, and was offset by a decline in its traditional advertising and software revenue. The Company expects that revenue for the full year 2025 will further benefit from an increased contribution from its AI-related products, led by its cloud-based intelligent products and solutions. Cost of revenue decreased by $0.9 million to $28.9 million, for the year ended December 31, 2024, from $29.8 million for the year ended December 31, 2023, primarily due to a decrease in cost of software, offset by an increase in cost of products. As a percentage of revenue, cost of revenue increased to 78.8% during the year ended December 31, 2024, from 77.1% during the year ended December 31, 2023. Gross profit as a percentage of revenue decreased to 21.2% for the year ended December 31, 2024 from 22.9% for the year ended December 31, 2023. The decrease in the overall gross margin primarily resulted from the impact of lower margin advertising business. The Company believes it can expand its gross margin over the coming year as focuses on expanding the contribution of higher margin sales, led by its AI-related products. Net loss attributable to the Company was $1.8 million for the year ended December 31, 2024, as compared to net loss of $0.7 million for the year ended December 31, 2023. About Taoping Inc. Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit http://en.taop.com. You can also follow us on X. Safe Harbor Statement This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results, the effects of the global pandemic or other health crisis, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the SEC available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law. View original content:https://www.prnewswire.com/news-releases/taoping-reports-full-year-2024-financial-results-302440499.html SOURCE Taoping Inc.